Sensex, Nifty50 edge lower amid volatility: All Adani group stocks in the red

• India’s benchmark indices Sensex and Nifty50 edged lower in mid-market trade on Tuesday.
  
• All the ten Adani group stocks were in the red, with four of them hitting their respective lower circuits.
  
• Almost all the sectoral indices on Nifty were in the red on Tuesday, with media, PSU bank, realty, and auto stocks falling the most.

India’s benchmark indices Sensex and Nifty50 edged lower in mid-market trade on Tuesday. Almost all the sectoral indices on Nifty were in the red, with media, PSU bank, realty, and auto stocks falling the most. All the ten Adani group stocks were also in the red, with four of them hitting their respective lower circuits.

While the 30-stock Sensex was down 0.13% or 72 points to 57,585, the 50-stock Nifty50 was down 0.22% or 36 points to 16,950.

Top gainers and losers on Nifty50

Source: NSE, as on March 28, 2023

Earlier on Monday, both the benchmark indices edged up to close 0.2% higher, led by gains in giants like Reliance Industries, ITC and Infosys.

Crude oil prices witnessed a notable increase, with Brent crude rising to nearly $78 per barrel from $74 on Monday. Gold prices eased from ₹59,273 per 10 grams to ₹58,526 on Monday.

US markets rebound on SVB deal

Markets in the US rebounded on the back of a deal for the deposits of Silicon Valley Bank, easing the banking sector jitters across markets. Dow Jones gained 0.6% while S&P 500 gained 0.16%. The tech-heavy Nasdaq, however, fell 0.47% on selling in tech stocks.

Markets in Asia were largely positive on Tuesday morning, led by the Hang Seng index which gained 0.59%, followed by KOSPI which was up 0.42%. Nikkei 225 and Shanghai Composite were flat, while Taiwan Weighted fell 0.73%.

Stocks to watch

HDFC: The NBFC’s board has approved the issuance of non-convertible debentures worth ₹57,000 crore on a private placement basis. The board also gave a nod to increasing overall borrowing powers to ₹6.50 lakh crore.

Tata Motors: The company has signed a pact with clean energy solutions provider Gentari to deliver 5,000 units of e-commerce vehicles.

Aditya Birla Capital: The company has approved the sale of its entire 50% stake in Aditya Birla Insurance Brokers to Edme Services.

Adani Enterprises: The company’s subsidiary AMG Media Networks acquired about a 49% stake in digital business new platform Quintillion Business Media for about ₹48 crore.

Reliance Capital: The company has decided to go on a second auction on April 4 to maximise recovery as part of its resolution process, as per reports.

Dilip Buildcon: The company has been declared as the lowest bidder for a new HAM project worth ₹780 crore by National Highways Authority of India (NHAI).

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